Mass Resignations Shake Nayara Energy Amid EU Sanctions
Key personnel, including directors and senior executives, have resigned from Nayara Energy following EU sanctions on the Rosneft-backed Indian oil refiner. These resignations highlight the pressure faced by European aliens in the face of sanctions against Russia, deemed by Nayara as unjust and harmful to India’s energy interests.
- Country:
- India
Nayara Energy, a prominent Rosneft-backed oil refiner in India, faces a leadership reshuffle as three directors and two senior executives have stepped down following European Union sanctions. Those affected include Alessandro Des Dorides, the company's chief executive, a decision attributed to the increased pressure on European nationals working under these restrictions.
Board members Victoria Cunningham, Avril Mary Anne Conroy, and Jorg Tumat, alongside senior vice president and Head of Health, Safety, and Environment Barbara (Hofbauer) Oberhauser, cited untenable conditions due to their European nationalities as a reason for their exit from the company. The sanctions were part of the EU's strategic measures against Russia in retaliation for the ongoing war with Ukraine.
Nayara Energy has vocalized its dissent, criticizing the sanctions as damaging to India's energy security and unjust. The company is exploring legal options to counteract these sanctions, according to sources. Alessandro Des Dorides, who joined Nayara in 2024, is succeeded by Sergey Denisov as CEO, reaffirming the company's commitment to navigating through these geopolitically turbulent times.
(With inputs from agencies.)
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